Half of gencos have yet to heed Epira POR By Lenie Lectura
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WORLD » A6
AIRSTRIKES AND GUNFIRE KILL 59 PEOPLE IN GAZA AS PRESSURE GROWS FOR CEASEFIRE, HOSTAGE DEAL
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HE Energy Regulatory Commission (ERC) reported last week that 49.62 percent or 131 of all the power generation companies (gencos) in the country have yet to comply with the public offering rule under the Electric Power Industry Reform Act (Epira). These power firms have a combined capacity of about 13,595,227 megawatts (MW). Under Epira, power generation companies (gencos) and distribu-
tion utilities (DUs) must offer or sell to the public at least 15 percent of their common shares not later than five years from the issuance of their certificate of compliance (COC). Based on the latest ERC data, 15.15 percent or only 40 gencos, with a combined capacity of 13,595,227 MW, are compliant. There are also 60 gencos, with a combined capacity of almost 5,000MW, that are not yet covered by the regulation as their COCs are fairly new. “The Commission took note of the low compliance rate of gen-
eration companies with the POR [public offering requirement] Guidelines, which are intended to foster transparency and widen public participation through share offerings,” it said during its eighth open commission meeting. The commission will continue to review existing guidelines to help both gencos and DUs meet their regulatory obligations, streamline processes for stakeholders and preserve safeguards that protect the public interest. “Through these deliberations, the ERC reaffirms its commitment to transparent decision-making
and to keeping the public informed on key regulatory matters that impact the energy sector,” it said. In August, ERC chairman Francis Saturnino Juan urged the commission to revisit its POR guidelines. While this requirement under section 43 (t) of the Epira has not been repealed, the ERC has the discretion to rationalize its implementation or altogether defer it, as part of its delegated authority. “Developments and successes in Epira implementation over the See “Half,” A2
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GOVT AUG BORROWINGS NEARLY TRIPLE TO ₧508.5B www.businessmirror.com.ph
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Monday, September 29, 2025 Vol. 20 No. 351
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto @reine_alberto
HE government’s retail treasury bond (RTB) drove the surge in borrowings last August, pushing total gross borrowings in eight months to P2.266 trillion. Latest data from the Bureau of the Treasury (BTr) showed the government’s gross borrowings for August surged by 192.19 percent to P508.526 billion from last year’s P174.034 billion. Broken down, domestic borrowings soared by 198.25 percent to P498.213 billion in August from P167.045 billion in the same month a year ago. The significant uptick was due to the government’s issuance of RTBs last August 5, which helped raise P425.613 billion in new money. The state also borrowed P60 billion and P12.6 billion, respective-
ly, through the sale of fixed-rate treasury bonds (T-bonds) and net Treasury bills (T-bills) during the month. Meanwhile, the government tapped foreign sources—mainly project loans—to generate P10.314 billion in August. External borrowings for the month grew by 47.57 percent year-onyear from P6.989 billion. BTr data further showed that from January to August this year, gross borrowings rose by 17.22 percent to P2.266 trillion from P1.933 trillion in the same period in 2024. See “Govt,” A2
WANT TO OWN A HOME? BE READY WITH P3M–BSP DATA By Cai U. Ordinario
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@caiordinario
ILIPINOS who want to own a home need over P3 million, according to the latest data from the Bangko Sentral ng Pilipinas (BSP), as of the second quarter of this year, Based on the Residential Property Price Index (RPPI) for the second quarter of 2025, the median price for all housing types in the Philippines stood at P3.41 million. BSP data showed the median price for all types of housing nationwide is lower than the
median price for condominium units (P3.81 million) but higher than the median price for houses (P3.14 million) in the second quarter. “NCR [National Capital Region] houses recorded the highest median price at P7.01 million, significantly surpassing all other [areas],” BSP said. The median price of housing in NCR amounts to P4.61 million and the median price of condominiums reached P4.28 million. It can be noted that it is only in NCR where prices of houses reached more than P5 million. See “Want,” A2
STORM SURGE OF URGENCY Philippine Army troopers and Coast Guard personnel rescue residents from floods, fallen power lines, and storm surges in Eastern Samar, Romblon, and Leyte on Friday, September 26, 2025, as Severe Tropical Storm Bualoi—locally named “Opong”—battered parts of the country. The storm unleashed heavy rains, fierce winds, and coastal flooding that forced evacuations across low-lying communities. In the wake of the devastation, Senate Minority Leader Alan Peter Cayetano renewed his call for a centralized Emergency Response Department to unify disaster management efforts, citing climate change and the recurring cycle of destructive typhoons as urgent reasons for reform. PHILIPPINE ARMY AND PHILIPPINE COAST GUARD VIA AP
Typhoons destroy ₧1-B staple grains–DA By Ada Pelonia
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@adapelonia
HE Department of Agriculture (DA) is ramping up efforts to deliver aid to farmers and fisherfolk as agricultural damage from the recent typhoons and the southwest monsoon breached P1 billion. In its latest report, the DA noted that the losses incurred by 55,595 farmers and fishers have reached P1.38 billion, with the volume of production damage across nine regions pegged at 109,997 metric tons (MT). Rice sustained the bulk of the damage caused by the combined effects of the southwest monsoon
and typhoons Mirasol, Nando, and Opong at 88,118 MT. Corn, highvalue crops, and cassava also sustained damage at 16,431 MT, 5,439 MT, and 9 MT, respectively. The report said the production losses are equivalent to P959.19 million for rice, P213.19 million for corn, P195.26 million for highvalue crops, P4.66 million for livestock and poultry, and P237,000 for cassava. Irrigation facilities also sustained damages worth P3.24 million, agri infrastructure at P3.85 million, and machinery and equipment at P133,000. With this, Agriculture Secretary Francisco Tiu Laurel Jr. directed the agency’s regional offices and the
Philippine Crop Insurance Corporation (PCIC) to fast-track damage verification and loss assessments to allow the immediate rollout of assistance to affected farmers and fisherfolk. Laurel, who also chairs the National Food Authority (NFA), also ordered the swift release of rice stocks in areas urgently in need of support for ongoing disaster relief operations. The DA said it has prepared the following assistance, such as the distribution of 142,219 bags of palay seeds, 90,320 bags of corn seeds, 40,518 kilos of vegetable seeds, and 1.65 million fingerlings of tilapia, bangus, and carp. Also included were drugs and
biologics for livestock and poultry, the immediate provision of Survival and Recovery (SURE) Loans of up to P25,000 under the Agricultural Credit Policy Council, payable in three years at zero interest, and crop insurance indemnification through PCIC. Meanwhile, the agency noted that it continues to gather field reports from areas affected by severe tropical storm Opong, which recently swept through key agricultural zones in central Philippines, including the islands of Mindoro and Masbate. For his part, NFA Administrator Larry Lacson said 2.4 million sacks of rice have been earmarked See “Typhoons,” A2
PESO EXCHANGE RATES n US 57.9180 n JAPAN 0.3868 n UK 77.2858 n HK 7.4423 n CHINA 8.1206 n SINGAPORE 44.7727 n AUSTRALIA 37.8378 n EU 67.5556 n KOREA 0.0411 n SAUDI ARABIA 15.4427 Source: BSP (September 26, 2025)